Deutsche Bank to Cut an Additional 1,000 Jobs in Germany

LONDON — Deutsche Bank said on Thursday that it would eliminate 1,000 full-time positions in Germany as part of job cuts the embattled lender first announced last year.

The announcement comes with Deutsche Bank facing a series of challenges. Its shares have plunged more than 50 percent in the last year over concerns about the pace of attempts to turn business around after a run of poor financial results and a failing grade in a banking stress test in June.

More recently, investors have fretted over whether the bank, Germany’s largest, will be forced to pay billions of dollars in fines in connection with an investigation by the United States Department of Justice into residential mortgage-backed securities underwritten by the bank.

Deutsche, which is based in Frankfurt, said it had reached an agreement with employee representatives to cut 1,000 jobs in Germany, on top of 3,000 cuts agreed to in June.

The latest cuts are part of an aggressive plan announced last year by John Cryan, Deutsche’s chief executive, to overhaul the lender and eliminate as many as 35,000 jobs through internal cuts and the sale of businesses. The bank will eliminate about 9,000 full-time jobs and about 6,000 external contractor positions.

“We are fully aware that today’s decision is a difficult change with significant personal impact for many employees,” Karl von Rohr, Deutsche Bank’s chief administrative officer, said in a news release, adding that reductions would be carried out in a “socially responsible manner.”

About 450 of the job cuts announced on Thursday are within Deutsche Bank’s chief operating office, which is largely a back-office division, the bank said. The remainder will be spread across its human resources and communications divisions, and its research, global markets and asset management businesses.

Shares of Deutsche Bank were up about 1 percent in afternoon trading Thursday in Germany, but later finished flat. The stock closed down 0.4 percent in New York.